Silver Coin Sales Outstrip Production
Posted by Investment Rarities on January 4th 2012 in CFTC, China, Federal Reserve, Gold, Goldman Sachs, Monetary Policy, Short Sellers, Silver, Wall Street | 1 comment
Following a multi-year increase in demand for American Silver Eagles and Canadian Maple Leaf coins, Steve St. Angelo reports in a SilverSeek article that “2011 will be the first year in which official coin sales will surpass domestic silver production in both countries.” And debunking what he calls “The myth behind the so-called silver surplus,” which was also addressed in a recent Mineweb article, St. Angelo points out that metals consultancy GFMS, whose figures for silver supply are widely cited, “has decided that coin and medal demand should not be included in the fabrication total but rather as a form of bullion supply. So the higher the coin and medal demand, the more it adds to the so-called silver surplus.”
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January 5th, 2012 at 2:28 pm
Interesting, I wasn’t aware of that!